former DISC
Defined in 1 place of the United States Code.
For purposes of this title, the term “former DISC” means, with respect to any taxable year, a corporation which is not a DISC for such year but was a DISC in a preceding taxable year and at the beginning of the taxable year has undistributed previously taxed income or accumulated DISC income.
Source
- 1994–present26 U.S.C. § 992Internal Revenue Code · Requirements of a domestic international sales corporation · for purposes of this title